Airports across Europe have warned that jet fuel supplies could run out within three weeks unless oil flows resume through the Strait of Hormuz, raising fears of widespread flight cancellations during the summer holiday season. The warning from Airports Council International (ACI) Europe comes amid ongoing conflict between the US and Israel against Iran, which has effectively closed the key shipping route.
In a letter to EU energy and transport commissioners, ACI Europe stated that a systemic jet fuel shortage would become a reality for the bloc if passage through the strait does not resume significantly and stably within three weeks. Jet fuel prices have more than doubled year-on-year, reaching $1,650 a tonne globally, with European prices up 138%.
Smaller airports are particularly vulnerable, as they typically hold only four to five weeks of reserves. Rico Luman, a senior economist at ING, warned that airlines may be forced to cut flights on less popular leisure routes first. Some smaller UK airlines have already cancelled services, including Skybus on its Newquay to London Gatwick route and Aurigny on Channel Islands routes.
Global carriers such as Air New Zealand, AirAsia X, Vietnam Airlines, and SAS have also reduced flights due to higher fuel costs. Ryanair CEO Michael O'Leary said Europe's largest airline is considering cutting 10% of its flights. A UK government spokesperson stated that British aircraft have not reported disruptions and are operating normally, with engagement ongoing to support carriers.
The last cargo of European jet fuel from the Gulf is due to arrive in Copenhagen on Saturday, while the final tanker destined for the UK arrived in Kent on Tuesday. Europe typically sources over 60% of its jet fuel from Gulf refineries, with more than 40% shipped through the Strait of Hormuz. The closure has forced European buyers to compete with Asia for alternative supplies, as pipeline alternatives for jet fuel are unavailable.
